the way installment loans can help with finances

The Way Installment Loans Can Help Improve Your Financial Situation

When your financial situation is dire, it can be hard to see the light at the end of the tunnel. Let us help you shine the way by telling you about Delaware installment loans. They're an option you can consider when monetary hardships rear their ugly heads.

What Are Installment Loans?

The term 'installment loan' is used as an umbrella term that references a vast number of personal loans available to consumers. Put simply, installment loans are any financial aid repaid in regular installments. 

They are widely different from credit cards that let you repeatedly borrow money. Instead, you are given a one-off lump sum and asked to pay it back throughout the defined timeframe.

To give you a better idea of what they are, look at the types in the section below.

The Types Of Installment Loans

  • Mortgages — A mortgage is a legal agreement stating a bank or building society has lent you money in exchange for the title deed of your property. Usually, you will have a mortgage on your house only. But some people may have multiple. They're paid over a very long period, usually around 25 to 40 years.
  • Personal Loans — Personal loans are known as a form of closed-end credit. You repay them in set monthly sums over a typically long period (3, 4, or 5 years).
  • Student Loans — Often given by the government to students seeking higher education. They are repaid after graduation and only when you start earning over a specific salary.
  • Signature Installment Loans — The type we here at Delaware Title Loans, Inc. offer.

How Can Signature Installment Loans Help You?

There are ways signature installment loans can help you make the best out of your financial situation, for example:

installment loans for emergencies

They Can Fund Emergencies

When we think about signature installment loans online or from a storefront, funding emergencies is the first thing that springs to mind. After all, this is exactly what some loan types were made for!

Crises don't wait for anyone, so you need to be prepared. But sadly, you might only be rebuilding your emergency fund or at the start of a new money management journey, leaving you with less than enough cash in your stronghold. Signature installment loans are there to buffer your account and fund unexpected situations. 

Our customers have used our signature installment loans for different types of emergencies, including:

  • Unexpected but necessary travel.
  • Repairing their car or other vehicles after an accident or general damage.
  • Fixing their home (most often, the roof) from storm and hail damage.
  • Unforeseen medical bills or medical fees that were higher than expected.

They May Help Prevent Further Damage To Your Credit Score

Aside from crises, these loan types can help you avoid impacting your credit score — if you utilize them correctly. 

Without a doubt, the most critical part of your credit score is your history of payments. It accounts for around 35% of your total, hence why making timely repayments is essential. So, you can use a signature installment loan to avoid falling behind on your bill payments.

With that said, it's important to keep these loan types for when you absolutely need them. Don't take them out without making sure that you don’t have other options.

installment loans near me

How To Obtain Installment Loans Near Me

If you want to fund your emergency and make the most of your financial situation, follow these steps to get signature installment loans near me from Delaware Title Loans, Inc.:

  1. Fill out the simple inquiry form on Delaware Title Loans, Inc.
  2. Make sure you have your cellphone nearby, so you don't miss the call from your closest Delaware Title Loans, Inc. location.
  3. One of our loan associates will tell you about the rest of the process over the phone. Feel free to ask them any questions. 
  4. After the phone call, head to your local Delaware Title Loans, Inc. storefront. You will need to take these documents with you:
    1. Checking account statement in your name.
    2. Your most recent pay stub.
    3. Driver's license or a different form of state-issued photo identification.
  5. When you arrive, a friendly loan expert will sit down and verify your items. 
  6. Next, our loan associate will guide you through the rest of the process, including completing simple forms.
  7. Once you're approved, you will receive the money you need on the same day or the following day, depending on banking delays!

Getting Installment Loans Near Me

When you’re dealing with a difficult financial situation, finding signature installment loans near me, and using them to improve your situation can offer some meaningful help. Submit your online form today to make the most out of the help we offer at Delaware Title Loans, Inc.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Emma Frost

Emma Frost is a lifestyle and finance blogger with a talent for communication and a passion for financial literacy. She uses her writing talents to explore topics that help her readers gain financial stability and growth.